Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has invited Canadian businessmen to make investment in Bangladesh, taking the advantage of attractive and investment-friendly environment in the country. “Bangladesh is no longer a country of poverty and natural calamities. Rather the country has been able to secure a prestigious position as a role model of development in the world with its consistent and remarkable economic growth and development performance,” said Faruque.
The BGMEA President made the remark while addressing a reception accorded to him by Bangladesh Business Chamber of Canada in Canada on September 13, said a BGMEA press release today. H.M. Iqbal, President of Bangladesh Business Chamber of Canada, chaired the reception program which was also attended by Nayem Uddin Ahmed, Consul General, Consulate General of Bangladesh in Toronto and BGMEA Director Abdullah Hil Rakib.
Faruque also encouraged the non-resident Bangladeshis including those living in Canada, to promote “Made in Bangladesh” brand in their countries of residence. NRBs living in Canada can play an important role in promoting the interests of Bangladesh from their respective positions, especially by those having influential positions in their countries of residence, he added. The BGMEA President highlighted the prospect of investment in different potential sectors including high value-added and non-cotton textiles along with others.
There are highly potential areas for investment in man-made fibre based yarns and fabrics, functional fabrics like polyester, viscose, spandex, etc. He encouraged investment high-end apparel items. Apart from textiles, there are huge investment opportunities in other sectors which can substitute imports and complement industries in Bangladesh like spare parts, textile machinery, even light engineering, jute, leather, pharmaceuticals, ceramics and ship building.
The ICT sector is also a highly potential sector for investment in Bangladesh, he said. Economic viability, purchasing power of people, demographic dividend and ecosystem are in favour of investment in Bangladesh, Faruque added.